Paints and Coatings Market Overview:
DataM Intelligence published a business research report on the Paints and Coatings Market by Product Type, By Formulation, By Application, and By Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts for 2022–2029. Paints and Coatings Market report with 110+ market data Tables, Pie Chat, Graphs, and Figures spread concluded Pages and easy to comprehend complete analysis. The data is collected based on modern floats and requests acknowledged with the administrations and items.
The Paints and Coatings Market study comprises historic data, current market trends, environment, technological innovation, upcoming technologies, and the technical progress in the correlated industry. The Paints and Coatings Market research report offers a complete, proficient report delivering market research information that is related to new market entrants or set-up players. Key strategies of the companies operating in the market and their effect analysis have been comprised in the full report.
According to the Study conducted by DataM Intelligence, the global Paints and Coatings Market size is projected to reach a decent value in billion USD by the end of 2029, with growth at a CAGR of 5% During the forecast period 2022-2029.
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The paints & coatings are the liquid materials that are sprayed or applied to a substrate in the form of a thin layer. These materials are obtained from the synthetic or natural source that provides the color or protection to the surface applied. The paints & coatings are used to decorate the surface by creating a solid film over the surface.
Paints and Coatings Market Growth Drivers Insights
The market is driven by the rising demand for the paints & coatings in decorative, marine, automotive, construction, and industrial applications to provide better visual appeal, texture, to increases shelf-life, and protect the product from external damage.
The market is dominated by the availability of innovative formulation technologies including anticorrosive protection, low-VOC content coats, and nano-coatings. Several companies are developing nano paints and coatings. The introduction of nanotechnology has led to the development of the products that can conduct electricity, or exhibit UV protective or self-healing properties.
Paints and Coatings Market Segment Analysis:
By Product Type: Acrylic, Alkyd, Epoxy, Polyurethane, Polyesters
The acrylic segment accounts for the highest market share due to the higher usage of acrylic paints and coatings are used in various industries including the automobile, medical devices, and construction industries because of their chemical characteristics and unique esthetic properties.
The epoxy segment is expected to have positive market growth owing to the increasing usage of epoxy paints & coatings used for various consumer and industrial applications due to their characteristics such as toughness, strong adhesion, chemical resistance, and other specialized properties.
By Formulation; Water-Borne Coatings, Solvent-Borne Coatings, Powder Based Coatings, UV-Curable Coatings
By Application: Architectural Application (Residential, Non-Residential, Infrastructure), OEM Coatings (General Industrial, Automotive OEM Coatings, Wood Coatings, Coil Coatings, Packaging), Special Purpose Coatings (Protective Coatings, Marine Coatings, Auto Refinish Coatings))
The paints & coatings market is also classified based on application as architectural, and industrial. The architectural segment accounts for the highest market share owing to the high usage of paints and coatings for coating the exterior and interior of residential and commercial buildings.
Paints and Coatings Market Geographical Classification:
Middle East and Africa
Rest of the Global Countries
Asia Pacific Paints and Coatings Market
The Asia-Pacific region is expected to be the fastest-growing region owing to the drastic growth in the automobile and construction industry. There is a rising demand for coats and varnishes. Australia, Japan, Korea, and China are the leading countries driving the demand for coats and varnishes. India, Vietnam, and Taiwan are expected to witness the entry of new entrants in the upcoming years. Increasing the domestic income and purchasing power shall boost the demand for paints & coatings. It is further expected that the Asia-Pacific would maintain its dominant market position over the forecasted period.
North America Paints and Coatings Market
North America is expected to have positive market growth owing to the rising investment in the construction of new residential and commercial industries and the automobile industry. The United States accounts for the highest market share of x% as the United States is one of the largest construction industries worldwide. According to Select USA, the United States is the world’s second-largest market for vehicle sales and production.
Paints and Coatings Market Major Companies Leading the Global Market:
Some of the major companies leading the global market are, AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems LLC, Nippon Paint Holdings Co., Ltd, Asian Paints Limited, and RPM International Inc. The companies are raising investment for the development of the manufacturing facilities for the paints & coatings. For instance, In September 2019, Nippon Paint had invested USD 60 million to construct a new, 270,000-sq-ft manufacturing plant in Chattanooga. The facility would focus on the production of automotive electrocoat (E-Coat) and topcoat.
Table of Content – Paints and Coatings Market
1) Methodology and Scope
- Research Methodology
- Research Objective and Scope of the Report
2) Market Definition and Overview
3) Executive Summary
4) Global Dynamics
5) Industry Analysis
6) By Product Type
7) By Formulation
8) By Application
9) By Region
10) Competitive Landscape
11) Company Profiles
Wood Coatings Market is segmented By Resin Type (Polyurethane, Acrylic, Nitrocellulose, Polyester, Others), By Formulation (Water-Borne, Solvent-Borne, Powder Based, UV Curable, Others), By Application (Furniture, Flooring, Siding, Decks and Cabinets, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,2022-2029
Protective Coatings Market is segmented By Resin Type (Polyurethane, Epoxy, Acrylic, Alkyd, Polyester, Others), By Formulation (Solvent-based, Water-based, Powder-based), By End-Use (Oil & Gas, Automotive, Aerospace, Marine, Mining, Construction, Industrial, Power, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Marine Coatings Market is segmented By Type (Anti-fouling, Foul release, Anti-corrosion, Other coatings), By Application (Passenger Ships, Cargo Ships, Boats, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
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